IeAD, InStudio Ventures Form 'The Draft' To Support Global Sport-Tech Innovation

IeAD and InStudio Ventures announced a new partnership Tuesday: The Draft, an initiative that will support global sports technology innovation.

What Happened: In an effort to disrupt the traditional venture capital model and focus on venture building as the future for sports technology investment, IeAD and InStudio, two big movers in the sports industry, are setting up a U.S.-based seed and venture capital fund.

InStudio, in collaboration with major sports clubs and brands like MLS, NFL and PepsiCo Inc PEP, among others, is a venture studio helping build the sports, media and technology companies of the future.

IeAD, drawing on inspiration by legends like Adi Dassler, the founder of German sportswear company Adidas ADR ADDYY, drives innovation and excellence in sports- and health-technology journeys.

“We build ventures by investing beyond capital,” Danny Cortenraede, a serial entrepreneur and investor who leads InStudio Ventures and built companies like Wannahaves and 433, said in a statement. 

“Our focus is to validate start-ups by a wide metric of indicators that we defined as key elements to build a successful business. Get start-ups on the right track by testing and eliminating all assumptions on their customer, product, market, and industry in four steps to create the ultimate value proposition for growth. We combine the power of leAD, the academy, our venture studio, and access to the biggest corporations, leagues, clubs, athletes to help startups with a solid foundation and grow exceptionally.”

Why It Matters: The initiative will enable global sports technology startups access to an infrastructure that allows them to scale and succeed in the long-term.

“The developments in the sports tech industry and the impact of COVID on various businesses in the past months have shown that having access to a supportive network is crucial for early-stage startup success. With our collaborative network and hands-on support in daily operations, we even get one step further to become truly co-founders on their journeys for sustainable growth and lasting impact," said IeAD investment manager Aaron Naisar.

Additional supporters of the initiative include NYCE Group, co-founded by entrepreneur and influencer Philip Michael, as well as FC Barcelona soccer player Martin Braithwaite.

Involvement by athletes allows young creators access to the know-how and tools to make an impact.

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Courtesy photo.